Company News

U.S. restaurants ask for federal aid, could take $225 bln hit from coronavirus

NEW YORK, March 18 (Reuters) - U.S. restaurants could take a $225 billion sales hit in the next three months as they shut down or curtail operations because of the coronavirus pandemic, an industry trade group said on Wednesday.

The group, the Washington, D.C.-based National Restaurant Association, asked the White House and Congressional leaders in a letter for a relief package including $145 billion recovery fund, block grants, small-business loans and tax help.

The letter came a day after executives from some of the world’s biggest fast food chains, including McDonald’s Corp , Restaurant Brands International Inc and Yum! Brands Inc met with President Donald Trump and other officials. (Reporting by Hilary Russ Editing by Chizu Nomiyama)